Spirit Airlines, Inc. (SAVE) Downgraded by TheStreet to “C+”

TheStreet lowered shares of Spirit Airlines, Inc. (NASDAQ:SAVE) from a b- rating to a c+ rating in a research report released on Monday.

Other equities analysts also recently issued reports about the stock. Cowen and Company restated a market perform rating and issued a $59.00 price target on shares of Spirit Airlines in a research note on Tuesday, July 18th. Morgan Stanley restated an equal weight rating and issued a $60.00 price target (down from $61.00) on shares of Spirit Airlines in a research note on Thursday, July 13th. Imperial Capital upped their price target on shares of Spirit Airlines from $70.00 to $75.00 and gave the company an outperform rating in a research note on Monday, May 1st. Bank of America Corporation downgraded shares of Spirit Airlines from a buy rating to a neutral rating and decreased their price target for the company from $68.00 to $44.00 in a research note on Friday, July 28th. Finally, Stifel Nicolaus restated a buy rating and issued a $55.00 price target (down from $75.00) on shares of Spirit Airlines in a research note on Sunday, July 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Spirit Airlines has a consensus rating of Buy and a consensus price target of $54.96.

Spirit Airlines (NASDAQ SAVE) opened at 38.00 on Monday. The stock’s 50 day moving average is $50.71 and its 200-day moving average is $53.17. The company has a market capitalization of $2.64 billion, a P/E ratio of 11.01 and a beta of 0.57. Spirit Airlines has a 12-month low of $37.17 and a 12-month high of $60.40.

Spirit Airlines (NASDAQ:SAVE) last released its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.03. Spirit Airlines had a net margin of 9.62% and a return on equity of 17.96%. The business had revenue of $701.68 million for the quarter, compared to the consensus estimate of $702.29 million. During the same period in the prior year, the company posted $1.11 earnings per share. Spirit Airlines’s revenue was up 20.1% compared to the same quarter last year. On average, equities analysts predict that Spirit Airlines will post $3.61 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Spirit Airlines, Inc. (SAVE) Downgraded by TheStreet to “C+”” was originally published by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this news story on another publication, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be accessed at https://sportsperspectives.com/2017/08/10/spirit-airlines-inc-save-downgraded-by-thestreet-to-c.html.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Spirit Airlines by 4.4% in the first quarter. Vanguard Group Inc. now owns 5,364,771 shares of the transportation company’s stock worth $284,708,000 after buying an additional 228,176 shares during the period. Wells Fargo & Company MN boosted its position in Spirit Airlines by 24.3% in the first quarter. Wells Fargo & Company MN now owns 3,093,057 shares of the transportation company’s stock worth $164,148,000 after buying an additional 604,447 shares during the period. BlackRock Inc. boosted its position in Spirit Airlines by 7,002.6% in the first quarter. BlackRock Inc. now owns 2,691,469 shares of the transportation company’s stock worth $142,838,000 after buying an additional 2,653,575 shares during the period. Jennison Associates LLC boosted its position in Spirit Airlines by 9.6% in the first quarter. Jennison Associates LLC now owns 2,648,627 shares of the transportation company’s stock worth $140,563,000 after buying an additional 231,088 shares during the period. Finally, Mackenzie Financial Corp boosted its position in Spirit Airlines by 3.9% in the first quarter. Mackenzie Financial Corp now owns 1,743,502 shares of the transportation company’s stock worth $92,528,000 after buying an additional 64,996 shares during the period.

About Spirit Airlines

Spirit Airlines, Inc is an airline company. The Company provides air transportation for passengers. As of December 31, 2016, its all-Airbus Fit Fleet operated over 420 daily flights to 59 destinations in the United States, Caribbean and Latin America. As of December 31, 2016, it had a fleet of 95 Airbus single-aisle aircraft, which are referred to as A320 family aircraft and include the A319, A320 and A321 models, which have common design and equipment but differ most notably in fuselage length, service range and seat capacity.

Analyst Recommendations for Spirit Airlines (NASDAQ:SAVE)

Receive News & Ratings for Spirit Airlines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spirit Airlines Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply